DITP keeps close eye on currency situation in the region, aiming to boost export

[webfact]

DITP keeps close eye on currency situation in the region, aiming to boost export

BANGKOK, 19 Feb 2015, (NNT) - The Department of International Trade Promotion (DITP) is keeping a close eye on the currency situation in the ASEAN region, aiming to boost export.

The DITP has been following up on the baht’s direction compared to the rest of the region’s currencies. The department has claimed that the information will help the export sector’s overall situation increasing its competitiveness.

According to the department’s Director-General, Nantawan Sakuntanak, it is necessary to know how other currencies perform, adding that the depreciation of baht will be conducive to the growth of the export sector. But if all other currencies in the region also depreciate at the same rate as the baht, the Thai export sector would not benefit as from the baht depreciation as much as it should.

If the baht depreciated more than it should, the Bank of Thailand would have to come up with necessary measures to handle the issue.

According to the DITP Director-General, her department will after the first quarter submit a revision of its export projection for this year, still setting the goal for the sector’s growth at 4% on-year.

-- NNT 2015-02-19

[Strangebrew]

With the Baht being overvalued now exports will suffer bad causing inflation so bad that the 40 baht meal you bought will cost 100 baht by years end. But don't listen to me cause not Thai.

[konying]

Without being an economist. If baht was cheaper,it would mean higher exports because cheaper to buy from thailand.

With euro, au, cad dropping , cheaper baht would most certainly attract more export to eu, au and ca, however this might be too simple , so best DITP comes up with more logical policy

[Anthony5]

With the Baht being overvalued now exports will suffer bad causing inflation so bad that the 40 baht meal you bought will cost 100 baht by years end. But don't listen to me cause not Thai.

Why would lack of export cause an increase in domestic food products?

[smedly]

With the Baht being overvalued now exports will suffer bad causing inflation so bad that the 40 baht meal you bought will cost 100 baht by years end. But don't listen to me cause not Thai.

Why would lack of export cause an increase in domestic food products?

it wouldn't - it would cause deflation and shrinking of prices

The key is maintaining a balance - it is a juggling act in a room full of other jugglers - the drop in oil price should allow a little more flexibility but the key is staying ahead and maintain market share, the fact that other Asian countries are making adjustments ahead of Thailand means to me that they are overly cautious and have to an extent - dropped the ball

Market predictions in Thailand have suddenly changed to market goals - a point that should not be overlooked

[Godders]

Speculation is pointless. The currency market is rigged, like every other financial and commodity market. Only the Money Masters know what is going to happen to the baht. And they are not telling anybody.